Dana Investment Advisors Inc. Has $2.71 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Dana Investment Advisors Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,506 shares of the auto parts company’s stock after selling 1,833 shares during the period. Dana Investment Advisors Inc.’s holdings in Gentex were worth $2,714,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new position in shares of Gentex during the 4th quarter worth approximately $29,000. Quest Partners LLC acquired a new stake in Gentex in the second quarter worth $31,000. Gladius Capital Management LP bought a new stake in Gentex in the second quarter valued at $34,000. EverSource Wealth Advisors LLC raised its holdings in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 850 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after buying an additional 363 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by insiders.

Gentex Stock Performance

Shares of GNTX stock opened at $29.47 on Thursday. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.99 and a beta of 0.92. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58. The firm’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $32.99.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. Analysts forecast that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. Gentex’s payout ratio is 25.40%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GNTX. B. Riley reduced their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Robert W. Baird decreased their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. UBS Group initiated coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group cut their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.29.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.